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jonny
3 months ago
9

San Bernardino seller Craig Watkins has just signed a contract to sell his home of 13 years to buyer Ivedale Bosch, who has rece

ntly moved to California from Montana. The contract has met all the necessary requirements, and all inspections and other mandates have gone along as expected and as agreed to until one week before closing, when Craig decides to back out. However, he understands that he could face legal action by Ivy; so he offers to sell her another house he owns and has rented out for the past few years, in lieu of the San Bernardino one promised. The second home is worth $15,000 more than the originally contracted one, and has an extra bedroom. However, Ivy isn't interested, because she wants to be close to her elderly mother, who lives in a San Bernardino retirement complex. Craig refuses to complete the sale on the original home. Which of the following statements is true of this situation?
Social Studies
1 answer:
Juliette [1.5K]3 months ago
3 0

Craig Watkins cannot compel Ivy to purchase the other property, and Ivy cannot initiate legal action against Craig since the alternative house is larger than the first.

Explanation:

The initial property that Craig Watkins offered was withdrawn, as he opted to exit the contract. However, concerned about possible legal repercussions from Ivy, he proposed another house to her. This second option did not meet the terms and expectations of the buyer.

Nonetheless, she cannot pursue any legal recourse against Craig as the second house holds greater value and size compared to the initial one, thus diminishing the possibility of a lawsuit. Nevertheless, the seller cannot force Ivy to agree to the purchase of this new house.

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